Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, April 19, 2011

Reigning The Nifty - 19th April 2011

Daily Chart

The bearishness of the expanding triangles played out. The 5944-5735 range broke down.The morning efforts to rally resisited once again the the red downtrendline.This was almost the 10th attempt to cross it making it a significant resistance to cross for bullishness. Till then bias would remain down.

Supports are at 5660 -- megaphone pattern support line, 5665 -- 50 dema and 5616 -- 200dema.

Half Hourly Chart 

The half houirly chart shows a double top confirmation giving a target of 5547.Supports marked on the chart.

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Happy Trading !!
Lakshmi Ramachandran

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